1. In other words, Emo Love. Often used by emo kids - teenagers who listen to "emo" or emotion rock/pop/punk music (eg. Taking Back Sunday) - to show how much they love other emos, be they male or female. Often seen carved on desks in science labs, because well, emos are often h-o-tt.
2. Also appears in emo msn display names to show love for other emos or one gf/bf emo.

1. Haha, check out what some emo kid in 3rd form has carved on the Physics desk! Emo <3! Man, he likes emo guys/girls!